Risk-Averse Banks Wary Of Weak Enforcement In Remittance Sector
Two global financial watchdogs have called on national regulators to strengthen oversight of the remittance sector, warning that a “complete absence” of supervision in many regions is driving banks to continue de-risking.
The Financial Stability Board (FSB), an international body chaired by Bank of England governor Mark Carney, submitted two reports on de-risking to the G20 group of world leaders ahead of this week’s summit in Buenos Aires — one focused on correspondent banking and one on remittances.
Request a Free Trial
As a trusted source of regulatory intelligence for the global payments industry, we enable organisations to manage the growing volume and velocity of regulatory risk with confidence, empowering more informed and effective decision making, in an efficient and cost-effective way.
Take a Trial